LG Honorary Chairman Koo Cha-kyung who built the foundation for South Korea’s electronics and chemical competitiveness and set an exemplary model of “noblesse oblige” by making contributions to various public services with a humble attitude died at the age of 94 at 10 a.m. on Saturday due to his chronic ailment.
Born as the first son of Koo In-hwoi, the founder of LG Group, the late honorary chairman was the 1.5th generation of building LG Group to become the fourth-largest conglomerate in South Korea. Working in the field for 20 years until his appointment as the second chairman of LG in 1970, the former chairman pursued bold and unconventional business innovations for 25 years. Koo is regarded as an innovator in the business circles for having led business management sophistication by establishing an autonomous management system, introducing customer value-centered business, going public as the first private company, and constructing overseas plants as the first South Korean company.
Koo’s mortuary was watched by his second son and Heesung Group Chairman Koo Bon-neung, LG advisor Koo Bon-joon, LT Group Chairman Koo Bon-sik, his younger brother and Ourhome Chairman Goo Ja-hak, his grandson and LG Group Chairman Koo Kwang-mo, etc. The funeral will last four days and a funeral procession will be on Tuesday morning. The burial location was not revealed for a private ceremony with family members only.
Dong-Il Seo firstname.lastname@example.org